Ero Copper Corp. (NYSE:ERO) Receives $26.33 Consensus Target Price from Analysts

Shares of Ero Copper Corp. (NYSE:ERO) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $26.33.

Several research analysts recently weighed in on the stock. StockNews.com raised shares of Ero Copper from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. The Goldman Sachs Group started coverage on shares of Ero Copper in a research note on Monday, December 2nd. They set a “buy” rating and a $19.00 price objective on the stock.

Ero Copper Stock Performance

Ero Copper stock opened at $14.40 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.45 and a current ratio of 0.68. Ero Copper has a fifty-two week low of $12.78 and a fifty-two week high of $24.34. The stock has a fifty day moving average of $14.84 and a two-hundred day moving average of $18.43. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 84.71 and a beta of 1.15.

Institutional Investors Weigh In On Ero Copper

Several hedge funds have recently modified their holdings of ERO. Toronto Dominion Bank raised its position in shares of Ero Copper by 2,172.6% in the 3rd quarter. Toronto Dominion Bank now owns 57,702 shares of the company’s stock worth $1,285,000 after buying an additional 55,163 shares during the period. Goehring & Rozencwajg Associates LLC boosted its position in Ero Copper by 22.5% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 340,008 shares of the company’s stock valued at $7,266,000 after buying an additional 62,500 shares during the last quarter. Old West Investment Management LLC boosted its holdings in Ero Copper by 100.0% in the third quarter. Old West Investment Management LLC now owns 160,000 shares of the company’s stock valued at $3,563,000 after purchasing an additional 80,000 shares during the last quarter. Impala Asset Management LLC grew its position in shares of Ero Copper by 12.7% during the third quarter. Impala Asset Management LLC now owns 2,209,610 shares of the company’s stock worth $49,208,000 after buying an additional 248,390 shares in the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new position in Ero Copper during the 2nd quarter worth $2,521,000. 71.30% of the stock is owned by institutional investors and hedge funds.

Ero Copper Company Profile

Ero Copper Corp. engages in the exploration, development, and production of mining projects in Brazil. The company is involved in the production and sale of copper concentrate from the Caraíba operations located in the Curaçá Valley, northeastern Bahia state, Brazil, as well as gold and silver by-products.